On September 29, 1936, Silvio Berlusconi was born to a banker and a housewife in Milan, Italy. He had two younger brothers and later earned a law degree from the Universita Stalale in Milan.
He grew up with them. He concentrated on law, but he also played the upright bass. He performed on cruise ships for a few years as a member of an amateur band.
He appointed the other band members to various high-ranking posts in the government or in his businesses, and they later emerged as significant figures in his business and political lives.
What Was Silvio Berlusconi’s Net Worth?
Former Italian Prime Minister and businessman Silvio Berlusconi had a $7 billion net worth at the time of his passing. One of Italy’s post-war prime ministers with the longest tenure was Silvio Berlusconi.
He was also well-known for being a habitual offender and tax cheat who had been found guilty. In addition, from 1986 to 2017, he served as the proprietor of the Italian football team A.C. Milan. On June 12, 2023, Silvio Berlusconi passed away at 86.
How Did Silvio Berlusconi Start His Professional Career?
He started out in construction, working on the large-scale “Milano Due” project—the plan called for the construction of 4,000 apartments east of Milan.
It turned out to be a lucrative development, so he used the proceeds to start a cable television company called “Telemilano” with the money he had made from his first business endeavor.
He wed Carla Elvira Dall’Oglio, his first wife, about the same period. They would have two kids together over the course of the following five years.
To break into the public eye, Berlusconi established a small cable TV company named Telemilano in 1973.
When he established the television network Mediaset in 1974, which later expanded to become one of Italy’s most outstanding media enterprises, Berlusconi made a significant breakthrough.
The Spectator Index has given the following tweet:
– Media tycoon with assets in television and print
– Net worth of $7 billion in April, 2023.
– Served as PM of Italy in four governments from 1994 to 1995, 2001 to 2006 and 2008 to 2011.
– Owned A.C. Milan from 1986 to 2017
– Has died at age of 86 pic.twitter.com/nOkJxrMt8m
— The Spectator Index (@spectatorindex) June 12, 2023
Fininvest was a media company that Berlusconi founded in the late 1970s. He acquired other lesser stations during the course of the next ten years, eventually running Italy’s sole commercial television empire. He was making $75 million annually and it was phenomenally successful.
But his tactics were questionable. Nobody could exactly explain how his numerous outlets were generating income or how the cash he was allegedly pulling in was being spent.
The legislative decision that declared RAI, the Italian public broadcasting channel, was the only station entitled to hold a television monopoly only served to fuel the dispute.
Berlusconi was compelled to stop broadcasting for nearly five years as the legal process against him unfolded. Eventually, the ruling was overturned.
Berlusconi expanded his commercial holdings beyond his media empire to include professional football, publishing, and advertising. In 1986, he bought the football team A.C. Milan, which he sold in 2017.
As a result of his club ownership, he had both financial success and sporting achievement, further solidifying his position as a leading figure in the sports industry.
Other interests include holdings in the football team A.C. Milan, the financial services firm Mediolanum, Mondadori, one of Italy’s largest publishing companies, and Medusa, a movie production company.
When Berlusconi acquired AC Milan in 1986, the football team was entirely out of existence.
In 2017, Silvio Berlusconi sold AC Milan to a group formed by Chinese investors. The deal included debt and was valued at about €740 million (approximately $800 million). After over 30 years of ownership, Berlusconi’s club control ended with the deal.
Yonghong Li, a previously unknown businessman from China, was the consortium’s leader. At the time of the sale, however, it was unclear exactly how each consortium member fit together. As foreign ownership in Serie A, Italy’s top football league, increased, this acquisition marked a significant change.
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Berlusconi entered politics for the first time in 1993 when he launched his political party Forza Italy (Go Italy) and stood for prime minister. Since then, he has served as Italy’s prime minister four times. He was in office from 1994 to 1995, 2001 to 2006, and 2008 to 2011.
Berlusconi’s time as prime minister was the third longest behind Benito Mussolini’s and Giovanni Giolitti’s nine years in office.
Berlusconi led the party from its inception in 1994 until his resignation in 2009. From 2009 until 2013, he led the People of Freedom, the party that succeeded him. The senior G8 leader from 2009 to 2011, Berlusconi holds the record for most conferences hosted by a single leader with three summits held in Italy.
In the 2013 general election, he finally made it to the Senate after 19 years in the Chamber of Deputies. Silvio Berlusconi broke new ground as the first prime minister to have never held a political or administrative post before becoming prime minister.
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For almost 4 years, Jason Martin has been a freelance writer for newspapers, journals, blogs, books, and online material. He covers the most recent news as well as many other topics.